5 Best Dividend Stocks Hedge Funds are Buying

2. AT&T Inc. (NYSE: T)

Number of Hedge Fund Holders: 68
Dividend Yield: 7.4%

AT&T Inc. (NYSE: T), a US-based telecommunications company, is next on our list of the best dividend stocks that hedge funds are buying, and ranks 2nd. The company is the largest of its kinds in the world, and also the largest mobile telephone services provider operating in America.

Kutgun Maral, an analyst at RBC Capital, this July took over coverage of AT&T Inc. (NYSE: T) shares with a Sector Perform rating. The analyst also placed a $30 price target on the stock.

In the second quarter of 2021, AT&T Inc. (NYSE: T) had an EPS of $0.89, beating estimates by $0.09. The company’s revenue was $44.05 billion, up 7.56% year over year and beating estimates by $1.32 billion.

By the end of the second quarter of 2021, 68 hedge funds out of the 873 tracked by Insider Monkey held stakes in AT&T Inc. (NYSE: T) worth roughly $2.9 billion. This is compared to 63 hedge funds in the previous quarter with a total stake value of approximately $2.7 billion.